Vulcan Value Partners LLC Sells 13,291 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Vulcan Value Partners reduced its Jones Lang LaSalle stake by 12.1%, selling 13,291 shares and retaining 96,258 shares valued at approximately $29.8 million. Institutional investors collectively own 94.8% of JLL.
• JLL reported strong quarterly results, with earnings of $5.26 per share and revenue of $6.93 billion, exceeding analyst estimates; revenue increased 10.8% year over year.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and a $433.60 average price target, compared with a recent share price of $352.07.

Vulcan Value Partners LLC lessened its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,258 shares of the financial services provider's stock after selling 13,291 shares during the period. Jones Lang LaSalle accounts for approximately 0.9% of Vulcan Value Partners LLC's investment portfolio, making the stock its 20th largest holding. Vulcan Value Partners LLC owned about 0.21% of Jones Lang LaSalle worth $29,835,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Deutsche Bank AG purchased a new stake in Jones Lang LaSalle during the second quarter valued at approximately $6,504,000. Moran Wealth Management LLC acquired a new position in shares of Jones Lang LaSalle during the first quarter worth $4,405,000. Thrivent Financial for Lutherans lifted its holdings in shares of Jones Lang LaSalle by 78.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 28,895 shares of the financial services provider's stock valued at $9,723,000 after purchasing an additional 12,699 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Jones Lang LaSalle by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider's stock worth $333,451,000 after purchasing an additional 15,995 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new position in Jones Lang LaSalle during the 4th quarter worth $1,507,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Stock Performance

Shares of JLL stock traded down $10.29 during mid-day trading on Tuesday, reaching $352.07. The stock had a trading volume of 216,466 shares, compared to its average volume of 437,880. Jones Lang LaSalle Incorporated has a 1-year low of $259.83 and a 1-year high of $393.84. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 16.87 and a beta of 1.24. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $350.95 and its 200-day moving average is $323.17.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, topping analysts' consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The firm had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $6.88 billion. During the same quarter in the previous year, the company posted $3.30 earnings per share. The company's revenue was up 10.8% compared to the same quarter last year. On average, research analysts forecast that Jones Lang LaSalle Incorporated will post 25.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods increased their price target on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Barclays lifted their target price on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research note on Monday, August 17th. Raymond James Financial reissued a "strong-buy" rating and set a $500.00 target price on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $433.60.

Insider Buying and Selling at Jones Lang LaSalle

In other news, Director Larry Quinlan sold 402 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $301.73, for a total value of $121,295.46. Following the sale, the director directly owned 4,369 shares of the company's stock, valued at $1,318,258.37. This represents a 8.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christian Ulbrich sold 2,000 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the transaction, the chief executive officer directly owned 138,418 shares of the company's stock, valued at approximately $53,364,291.54. This trade represents a 1.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,402 shares of company stock worth $2,392,355 over the last ninety days. Insiders own 0.91% of the company's stock.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated NYSE: JLL is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.

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